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Which of the following is NOT a characteristic of a responsible borrower?
uses a variety of types of credit
makes monthly credit card payments on time
only uses approximately 30% of the credit that is available to them
opens a new credit card every time one is maxed out

Sagot :

Answer: Opens a new credit card every time one is maxed out

Explanation:

The correct option is to open a new credit card every time one is maxed out.

What is the responsible borrower?

  • Being an accountable borrower is highly aligned with budgeting. Your student loan expenditures should be no more than 10% of your prospective net monthly payment.
  • It is important to not borrow more than you require for your school-related expenditures and to keep track of how much you are borrowing cumulatively.
  • An individual or an entity that takes money from someone else for different purposes. The borrower uses the capital for the specified period and at the end of the period returns the capital to the lender. For the usage of these funds, there will be a settlement called interest.

To learn more about responsible borrower, refer to:

https://brainly.com/question/25599836

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